Lasa Supergenerics share price rose 10 percent intraday on June 17 after the company said it is going to commence production of antiviral to fight the COVID-19 pandemic.
"Efforts over the last few months have brought success and we are looking to manufacture close to 10,000 doses to begin with and in the meanwhile also apply for the drug licence with competent authorities and continue to seek strategic private investments or Government aid," said Omkar Herlekar, Chairman– Lasa Supergenerics.
"Our move into human steroid API is in line with the organisation's inherent strengths and objectives to diversify," he added.
API Major, Lasa Supergenerics and Institute of Chemical Technology had come together in the month of March 2020 in effort to bring the antiviral to the market as a promising therapy to fight the ongoing COVID-19 pandemic.
Recently in its Q4 results, the company reported a healthy increase in its PAT to Rs 3.63 cr for FY20, as compared to a loss of Rs 12.04 cr in the corresponding period last fiscal, company said in the release.
At 14:27 hrs Lasa Supergenerics was quoting at Rs 44.05, up Rs 3.95, or 9.85 percent on the BSE.
The share touched its 52-week high Rs 49.70 and 52-week low Rs 9.48 on 03 March, 2020 and 06 August, 2019, respectively.
Currently, it is trading 11.37 percent below its 52-week high and 364.66 percent above its 52-week low.
The stock surged over 177 percent in last 1 year.
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